Tag Archives: Kangwon Land
- South Korea’s Kangwon Land casino rocked by hiring scandal
September 12, 2017
South Korea’s leading casino Kangwon Land is reeling from a corruption scandal in which 95% of staff turned out to have been hired due to their political connections. On Tuesday, the state-owned Kangwon Land issued an official statement saying 493 of the 518 people hired between July 2011 and February...
- Kangwon Land Q2 net profit down 10%
August 10, 2017
South Korean casino operator Kangwon Land Inc extended its losing streak in the second quarter with net profit tumbling 10.7 percent from the prior-year period. Kangwon Land, the only South Korean casino that’s legally allowed to cater to local residents, posted a KRW110.4 billion (US$96.9 million) net profit, the second...
- South Korea’s foreigner-only casino sales bounce back in 2016
July 18, 2017
After a year of decline, South Korea’s foreigner-only casinos have rebounded in 2016. Data from the National Gambling Control Commission showed that the sector’s combined sales climbed 2.6 percent in 2016 to reach KRW1.28 trillion (US$1.14 billion). For the third year in a row, Kangwon Land sales continue to outstrip...
- Political turmoil in South Korea drags Kangwon Land’s Q1 net income
May 16, 2017
The political heat in South Korea during the first quarter of the year proved too hot to handle for casino operator Kangwon Land Inc. Kangwon Land, the only South Korean casino that's legally allowed to cater to local residents, saw its net income tumble by 9.1 percent in the first...
- Kangwon Land casino paying problem gamblers to stay away
March 24, 2017
American casino industry groups are pleading with congressional leaders not to purge problem gambling support funds from President Donald Trump’s health care plan. Earlier this month, the heads of the American Gaming Association (AGA), National Indian Gaming Association (NIGA) and the Association of Gaming Equipment Manufacturers (AGEM) sent a joint...
- Kangwon Land outlook revised amid South Korea political crisis
March 20, 2017
International credit-debt watcher Morgan Stanley has downgraded its outlook on South Korea’s Kangwon Land casino amid political turmoil in the country. In its latest report, Morgan Stanley pointed out that South Korea’s sole locals-only casino took a beating due to the political crisis that resulted to the impeachment of President...
Tensions in Asia propel bitcoin past $4,000 to new milestone
August 14, 2017
Kangwon Land casino paying problem gamblers to stay away
March 24, 2017
Cyberattack cripples Korean bitcoin exchange Bithumb
July 6, 2017
Chinese tourists maintain biggest spenders’ crown
April 13, 2017